An ambiguous agreement has other hidden costs if you decide to move: you may have to pay high vestige rates – 11/2-2 times the normal rent while you look for new neighborhoods. Moving to Karnataka is a wonderful experience. The large selection of tourist attractions and the excellent climate are an additional beauty in this state. It is growing rapidly in the information technology sector and, as a result, many job opportunities are being created at a rapid pace. This has led to more people moving to Karnataka, especially to cities like Bangalore, Mysore, Belgaum and Mangalore, to look for work. As a result, the need for rental housing has increased significantly. But although the city has a place for everyone, you should definitely know the rental procedure in this city. The basic framework of stamp duty is set out in the Indian Stamp Act of 1899, which allows states to modify them according to their needs. As a result, the Government of Maharashtra passed the Bombay Stamp Act in 1958. Payment of stamp duty on holidays and licensing agreements is covered by section 36A of the Bombay Stamp Act 1958.

However, for Maharashtra, the law has been made stricter and, in accordance with the provisions of section 55 of the Maharashtra Rent Control Act, 1999, any lease or leave and licence agreement must be in writing and it must also be registered compulsorily, regardless of the duration of the tenancy. In accordance with Section 17 of the Indian Registration Act, which applies to the whole of India, any real estate lease agreement must be registered from year to year or for a period exceeding one year. Therefore, unless otherwise provided by state law, each leave and license agreement must be registered for a period of 12 months or more. Electricity. For many tenants, electricity is one of the most important operating expenses. Landlords who want to increase their income without paying a higher rent often use the electricity clause as a profit center and inflate the already considerable costs of this essential service. Don`t let your landlord`s profit unnecessarily increase your electricity bills. As a rule, lease agreements provide that electricity is paid in one out of three ways: direct measure, sub-measure or closure of rent. For the registration of the contract, you need some basic documents of the tenant, the owner and witnesses, such as a passport photo, a photocopy of the proof of identity (for example. B PAN card) and the electricity bill or the real estate document such as index II or tax proof of the rented property.

An unregyed apartment is never evidence in court. This is only collateral evidence and cannot be used to prove one`s own claims. Therefore, registering the lease is very important to be safe….